TL;DR
- Over 246 million PI unlocking this month adds pressure despite recent short-term price gains.
- PI trades inside a descending channel; $0.50 breakout may shift current bearish trend.
- 376 million PI now on exchanges, with Gate.io leading—fueling concern over sustained sell-offs.
PI Price Sees Modest Recovery
Pi Network (PI) traded at $0.4755 at press time, up 3.08% in the last 24 hours. The token has seen a 7-day decline of 5.54%, with a market cap of $3.62 billion. Its 24-hour trading volume stands at $78.8 million. PI has been fluctuating between $0.4612 and $0.4738 in the past day and between $0.4477 and $0.5053 over the past week.
Despite short-term gains, the broader price trend shows a long-term downtrend. PI continues to trade within a descending channel, which has held since its recent peak. The price is now rebounding from a key demand zone near $0.44–$0.47.
Notably, immediate resistance is located near $0.50. If PI breaks through this zone, it may test higher levels around $0.5486 and $0.6506.
However, the Stochastic RSI is currently above 90, signaling an overbought condition. This may suggest a short-term pullback or price consolidation before any extended upward move.
Maintaining support above the $0.44 demand zone is important for any bullish continuation. Traders are watching for a sustained close above $0.50 to confirm a potential trend reversal.
Exchange Activity and Token Unlocks Raise Concerns
Crypto analyst Moon Jeff noted that 376 million PI is now held on exchanges, with Gate.io holding 177 million PI in its deposit wallet.
“All these coins are from pioneers who are bringing the selling pressure,” he said. “If this stops, PI will pump to $1 easily.”
We now have 376 million $PI in exchanges.
GateIO leads with 177 million $PI in their depositing wallet.
All these coins are from pioneers who are bringing the selling pressure. .
If this stops $PI will pump to $1 easily. .#PiNetwork pic.twitter.com/5oGRt8rCoy— MOON JEFF (@CRYPTOAD00) July 10, 2025
Pi Network’s supply continues to grow, with over 246 million PI set to unlock over the next 30 days, including 16.4 million on July 10.
As CryptoPotato reported, the token has dropped nearly 70% in the past two months. This ongoing release has created consistent sell pressure, allowing more holders to exit. Without a change in pace or demand, price recovery may remain limited.
The post 376,000,000 Pi Hits Exchanges: Is a Pi Netowrk Sell-Off Inevitable? appeared first on CryptoPotato.
Source link
Olivia Stephanie
https://cryptopotato.com/376000000-pi-hits-exchanges-is-a-pi-netowrk-sell-off-inevitable/
2025-07-10 10:59:27
